Chapter 10: Reference and Master Data

Question 1

Reference data management does not provide control over:
codes and descriptions
classifications
single version of the truth
mappings
hierarchies

Answer 1

Master data, not reference data, provides control over a single version of the truth for master values.

Question 2

Master data management does not provide control over:
golden record
master values
taxonomy
single version of a customer

Answer 2

Reference data, not master data, provides control over a taxonomy for lists of values.

Question 3

Which of these is not a goal of master and reference data management?
Ensuring data is complete, current, and consistent across the organization
Defining a data integration strategy
Enabling data sharing across enterprise functions and applications
Lowering cost and reducing complexity of data usage and integration

Answer 3

Defining a data integration strategy is a goal of data integration as guided by the data governance strategy.

Question 4

Which of these is not a guiding principle of master and reference data management?
Organizational ownership
IT stewardship
Controlled change
Authority over systems of record

Answer 4

Business, not IT, Data Stewards, are accountable for controlling and ensuring the quality of data

Question 5

This type of data could be:
A subset of other types of data
composed of fewer rows and columns
resident outside the organization

Answer 5

Reference data but not master data

Question 6

This type of data will:
reduce risk from ambiguous identifiers
require a trusted version of the truth for each instance of conceptual entities
provide a golden record of customers, accounts, and products

Answer 6

Master data but not reference data

Question 7

This type of data includes:
simple and proprietary internal lists
industry codes
taxonomies and ontologies
geostatistical and computational data

Answer 7

These are all descriptions of reference data.

Question 8

This type of data includes:
parties
products
legal/financial structures
locations

Answer 8

These are all descriptions of master data.

Question 9

Which of these is most often a system of record?
MDM hub
Data sharing hub
CRM
Data Warehouse

Answer 9

A customer relationship management system (CRM) is typically the authoritative system where customer data is created, captured, and maintained.

Question 10

A golden record should include:
a single or 360 degree view
data from a single source system
rules for matching and merging
semantic consistency

Answer 10

A golden record should include data from multiple source systems.

Question 11

Spoke systems in a hub-and-spoke data sharing architecture include:
Data sourcing
Data quality
Metadata catalogue
Consuming systems

Answer 11

Data sourcing, data quality, and the metadata catalogue are part of the MDM hub environment. Systems of entry and consuming systems are the spokes.

Question 12

MDM tools and techniques typically require:
Data integration
Data remediation
Operational data stores
All of the above

Answer 12

All of the above are part of the MDM toolset.

Question 13

Which of these is not an approach to a data sharing architecture?
Registry
Transaction Hub
Distributed 
Consolidated

Answer 13

Distributed systems is not a recommended approach to MDM architecture.

Question 14

Which of these is an advantage of a MDM transaction hub?
easier to implement with fewer changes to systems of record
enables better governance and provides a consistent source of master data
eliminates the need to access directly from the systems of record
provides an enterprise view with limited impart on systems of record

Answer 14

A transaction hub enables better governance and provides a consistent source of master data.

Question 15

Which of these is a disadvantage of a registry approach to MDM?
latency between the hub and systems of record
costly to remove functionality to update master data from systems of record
replication of data
complex queries and business rules to assemble data from multiple systems

Answer 15

A registry approach requires complex queries and business rules to assemble data from multiple systems.

Question 16

What is the first activity recommended for reference and master data?
model the datasets
evaluate and assess sources
define drivers and requirements
define the architectural approach

Answer 16

Both business and technical drivers should be defined first to create efficiencies and save costs.

Question 17

Which of these is an activity for master but not reference data?
Identify internal and external sources
model codes and descriptions
model the subject area
consider the frequency of updates

Answer 17

Modeling the subject area and introducing a canonical model is the core of master data modeling.

Question 18

Which aspect of data management is most critical to the implementation of reference and master data management?
Data modeling and design
Data integration and interoperability
Data security
Data governance

Answer 18

Data integration and interoperability is required to implement reference and master data management.